Night Deposit
Unless there is a state law affecting your bank, deposits placed in a night depository are considered made on the date and at the time they are removed from the night depository and made available to the bank for processing. Read more about it here: Reg CC, section 229.19. Many banks, as a matter of customer relations, post a statement at their night drops indicating that deposits are removed for processing at (approximate time). Other banks simply inform their night depository customers of the approximate processing time at the time they sign up for night drop access or include language to that effect in the night drop contract. There is nothing in the regulation that requires a notice. Incidentally, there are many customers whose contracts call for their night bags not to be processed until the bag is opened at the branch by the depositor's representative. In such cases, the deposit isn't made (and availability days counted) until the bag is opened by the customer and the contents are made available for processing.
First published on BankersOnline.com 6/23/08
Deposits are made at the night deposit (same day, same branch location) for a business owner that has 4 separate TINs. If these deposits are over $10,000.01 when aggregated should a CTR be filed? Night Depository. We know you can’t always get to the bank with your deposits during banking hours, but we’ve got you covered. For your convenience, we offer a night depository at each of our locations for after-hours deposits. Items deposited in the night depository.
Drop and Go Banking
Night Deposit Safe
Safe. Secure. Convenient.
Our night deposit service makes banking on your schedule easy. Whether it's after hours or you just don't want to stop into the branch, night deposits let you:
- Make bulk deposits
- Transfer funds
- Make loan payments
Simply fill out a night deposit slip, indicate how you'd like your transaction processed, and place the envelope in our secure lock box. One of our branch representatives will process your transaction the next business day and mail you a receipt. Or, if you're signed up for eReceipts, you'll receive a notification as soon as your transaction has been processed.
The following locations offer night deposit service:
| New Jersey | New York | Pennsylvania |
|---|
Night Deposit Procedures
Disclaimer
Transactions received after 8:00 am on any given business day will not be credited until the following business day. Funds from any deposit may not be available for immediate withdrawal. Call 800.242.2120 or ask an in-person representative for details.
Night Deposit Box
Visions Federal Credit Union cannot open accounts for local governments or businesses/organizations that deposit public and/or municipal funds.